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Weyerhaeuser Q4 Profit Misses View, But Sales Top

Weyerhaeuser Co. (WY) reported that its fourth quarter net loss narrowed to $14 million or $0.02 per share from $93 million or $0.12 per share in the same period last year.

Excluding net after-tax charges of $37 million for special items, the company reported fourth quarter net earnings of $23 million or $0.03 per share, compared to $70 million or $0.10 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales declined to $1.55 billion from $1.64 billion in the prior year. Analysts expected revenues of $1.53 billion.

Entering 2020, the company is encouraged by the recent pickup in U.S. housing activity, and it expects modest growth will drive improvement across its markets as the year progresses, the company said.

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